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Benzoic Acid Price Trend and Forecast

⟳ Weekly Update
|
Historical Data Since 2015
|
Forecast for 2026

benzoic acid Markets Covered:

cnChina
vnVietnam
phPhilippines
inIndia
brBrazil
idIndonesia
mxMexico
trTurkey

Global benzoic acid Price Trend, Analysis and Forecast​

In Q1 2025, export prices for Benzoic Acid from China dipped further to USD 798/MT, a 3.52% decrease from the previous quarter. While still in decline, the reduced pace suggested that the market might be approaching the pricing floor. Demand remained subdued globally, with many buyers continuing to delay fresh orders due to leftover inventories from Q4. Compared to the steep decline seen in Q4 2024, Q1’s correction was relatively mild, indicating tentative stabilization. However, weak end-user activity and persistent oversupply left suppliers grappling with tight margins, awaiting a stronger recovery from downstream industries. 

Benzoic AcidTrend Analysis: Q2 2025

In Q1 2025, export prices for Benzoic Acid from China dipped further to USD 798/MT, a 3.52% decrease from the previous quarter. While still in decline, the reduced pace suggested that the market might be approaching the pricing floor. Demand remained subdued globally, with many buyers continuing to delay fresh orders due to leftover inventories from Q4. Compared to the steep decline seen in Q4 2024, Q1’s correction was relatively mild, indicating tentative stabilization. However, weak end-user activity and persistent oversupply left suppliers grappling with tight margins, awaiting a stronger recovery from downstream industries. 

In Q1 2025, India’s import prices for Benzoic Acid (CIF Nhava Sheva) dropped further to USD 871/MT, reflecting a 3.22% decrease from Q4 2024. The continued price slide was primarily due to lingering oversupply from Chinese exporters and weak restocking interest by Indian buyers. Compared to Q1 2024 (USD 957/MT), this marks a significant year-on-year decline of 9%, emphasizing the subdued market sentiment. Procurement was limited to immediate needs, and overall trade activity remained muted. With ample inventories and a lack of strong demand signals, the market entered 2025 cautiously, awaiting signs of recovery in the downstream industries. 

Benzoic Acid Trend Analysis: Q4 2024

In Q4 2024, Benzoic Acid exports from China fell steeply to an average price of USD 820/MT, marking a 16.41% drop from Q3. This significant decline resulted from a sharp reduction in global demand, inventory clearance activities, and a general slowdown in procurement ahead of the year-end. Many international buyers postponed orders amid ample stock and weak downstream consumption. Compared to Q3’s stable pricing, Q4 reflected heightened bearishness, with excess supply overwhelming market needs. The quarter closed with downward pricing pressure across the board, reflecting restrained activity and limited buying enthusiasm across key regions. 

India’s CIF Nhava Sheva prices for Benzoic Acid declined sharply to USD 900/MT in Q4 2024, marking a 14.98% decrease over Q3. The price correction was influenced by reduced Chinese export prices and subdued domestic demand during the year-end lull. Several Indian importers deferred fresh bookings as they worked through existing inventories. Compared to the steady pricing in Q2 and Q3, this quarter represented a bearish shift driven by lower international activity and downstream weakness. Importers faced reduced cost pressure, but overall sentiment turned conservative amid concerns of oversupply and limited demand revival across key user segments. 

In Q3 2024, China’s Benzoic Acid export prices experienced a slight rise to USD 981/MT, reflecting a 1.17% increase over Q2. This modest gain signaled a stabilizing market, supported by sustained demand from pharmaceutical, plasticizer, and resin producers. Exporters benefited from a more balanced inventory position and steady international orders. Compared to the sharper price movement in Q2, Q3 showed signs of plateauing with more predictable pricing trends. While macroeconomic headwinds lingered, the supply-demand dynamic remained relatively steady, offering short-term confidence to suppliers navigating a cautiously recovering export landscape. 

In Q3 2024, India’s Benzoic Acid import prices (CIF Nhava Sheva) inched up to USD 1059/MT, a 2.61% increase from Q2. The market stabilized with consistent shipments from China and steady offtake from Indian downstream industries, particularly food preservatives and cosmetics. While the growth in price was marginal compared to Q2’s jump, sentiment remained positive. Procurement strategies turned more calculated, with buyers balancing between maintaining stock levels and hedging against future volatility. Relative to previous quarters, Q3 reflected a plateau phase—marked by stability in supply chain movement and moderate consumption without significant external disruptions or cost shocks. 

China’s Benzoic Acid export prices climbed to an average of USD 970/MT in Q2 2024, marking a 7.60% increase over Q1. This upward shift was largely attributed to a seasonal revival in demand, particularly from import-heavy regions like Southeast Asia and Europe. Industries linked to food preservation and personal care ramped up procurement, driving export volumes higher. Additionally, improved port efficiency and replenishment of depleted inventories contributed to the pricing rebound. The quarter marked a turning point for Chinese exporters, offering a breather from earlier price suppression—though lingering global economic pressures continued to temper the broader growth outlook. 

Benzoic Acid imports into India saw a price surge in Q2 2024, reaching USD 1032/MT (CIF Nhava Sheva)—a 7.87% increase over Q1. This rise aligned with China’s upward price trend, driven by stronger global demand and tightening availability. Indian buyers resumed active restocking as seasonal requirements picked up, especially in food preservation and industrial formulations. Improved trade flows and a stronger Chinese export position supported firmer landed costs in India. Compared to the preceding quarter, the pricing environment was firmer, prompting cautious yet necessary procurement by domestic buyers to secure consistent supply amid rising international benchmarks. 

During Q1 2024, China’s export prices for Benzoic Acid averaged around USD 902/MT, declining 7.39% from the previous quarter. This drop stemmed from muted demand across global markets, particularly from the food additive and plastics sectors. Oversupply and high inventory levels prompted Chinese exporters to reduce prices in order to remain competitive. Buyers remained hesitant, driven by broader economic uncertainties and restrained consumption trends. Compared to Q4 2023, the quarter marked the start of a bearish pricing cycle, indicating supply-demand imbalances and a cautious buying environment, despite consistent production output. 

In Q1 2024, Benzoic Acid prices imported to India (CIF Nhava Sheva) averaged USD 957/MT, showing a 3.82% decline from Q4 2023. The price correction was in line with weakening Chinese export prices and subdued domestic demand from downstream sectors such as food additives and pharmaceuticals. Buyers held back on bulk purchases, anticipating further softening. Compared to the previous quarter, procurement activity was more cautious, reflecting inventory adjustments and reduced operating rates in certain manufacturing units. The price drop highlighted India’s dependence on Chinese supply, with pricing trends closely mirroring fluctuations in China’s export market. 

benzoic acid Parameters Covered: 

  • Toluene
  • Benzyl Benzoate
  • China 
  • Food Preservatives
  • Pharmaceutical
  • Cosmetics
  • Plasticizers
  • Vietnam
  • Brazil
  • Turkey
  • India
  • Indonesia
  • Mexico
  • Philippines
  • India

Historically, several events have caused significant fluctuations in Benzoic Acid prices

  • Russia-Ukraine Conflict (2022-Present):  

Rising Energy Costs: Disruptions in natural gas and crude oil supplies from Russia led to higher energy prices, increasing production costs for benzoic acid. 

Feedstock Price Increases: Prices of key raw materials like toluene, derived from crude oil, surged due to geopolitical tensions, affecting benzoic acid production costs. 

Supply Chain Disruptions: Trade routes and logistics in Eastern Europe were severely impacted, causing delays and limited availability of benzoic acid and its feedstocks. 

Sanctions on Russia: Economic sanctions reduced the supply of key petrochemicals, creating a supply shortage in global markets. 

  • COVID-19 Pandemic (2020):  

Surge in Demand for Preservatives: Increased demand for processed and packaged foods during lockdowns drove higher consumption of benzoic acid, a key food preservative. 

Supply Chain Disruptions: Global lockdowns and restrictions disrupted transportation, manufacturing, and logistics, causing supply shortages for benzoic acid and its raw materials. 

Fluctuations in Feedstock Prices: Prices of toluene, a key feedstock for benzoic acid, were affected by volatility in crude oil prices, which initially plummeted and later stabilized. 

Reduced Industrial Activity: Shutdowns in various industrial sectors, such as coatings and plasticizers, reduced demand for benzoic acid, creating an imbalance in certain regions. 

Market Speculation and Stockpiling: Uncertainty about supply availability led to speculative buying and stockpiling, further amplifying price volatility. 

  • Geopolitical Tensions (2018-2019):  

Trade Wars and Tariffs: The U.S.-China trade war-imposed tariffs on petrochemicals and derivatives, increasing production costs and disrupting global supply chains for benzoic acid. 

Crude Oil Price Volatility: Geopolitical conflicts, such as U.S. sanctions on Iran and tensions in the Middle East, led to fluctuations in crude oil prices, directly impacting the cost of toluene, a key feedstock for benzoic acid. 

Supply Chain Challenges: Political instability and trade restrictions affected the transportation and availability of raw materials, creating supply shortages in some regions. 

Shifting Global Trade Patterns: Manufacturers re-evaluated sourcing strategies due to geopolitical uncertainty, increasing logistics and operational costs for benzoic acid production. 

 

Specifications

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Historically, several events have caused significant fluctuations in Benzoic Acid prices

  • Russia-Ukraine Conflict (2022-Present):  

Rising Energy Costs: Disruptions in natural gas and crude oil supplies from Russia led to higher energy prices, increasing production costs for benzoic acid. 

Feedstock Price Increases: Prices of key raw materials like toluene, derived from crude oil, surged due to geopolitical tensions, affecting benzoic acid production costs. 

Supply Chain Disruptions: Trade routes and logistics in Eastern Europe were severely impacted, causing delays and limited availability of benzoic acid and its feedstocks. 

Sanctions on Russia: Economic sanctions reduced the supply of key petrochemicals, creating a supply shortage in global markets. 

  • COVID-19 Pandemic (2020):  

Surge in Demand for Preservatives: Increased demand for processed and packaged foods during lockdowns drove higher consumption of benzoic acid, a key food preservative. 

Supply Chain Disruptions: Global lockdowns and restrictions disrupted transportation, manufacturing, and logistics, causing supply shortages for benzoic acid and its raw materials. 

Fluctuations in Feedstock Prices: Prices of toluene, a key feedstock for benzoic acid, were affected by volatility in crude oil prices, which initially plummeted and later stabilized. 

Reduced Industrial Activity: Shutdowns in various industrial sectors, such as coatings and plasticizers, reduced demand for benzoic acid, creating an imbalance in certain regions. 

Market Speculation and Stockpiling: Uncertainty about supply availability led to speculative buying and stockpiling, further amplifying price volatility. 

  • Geopolitical Tensions (2018-2019):  

Trade Wars and Tariffs: The U.S.-China trade war-imposed tariffs on petrochemicals and derivatives, increasing production costs and disrupting global supply chains for benzoic acid. 

Crude Oil Price Volatility: Geopolitical conflicts, such as U.S. sanctions on Iran and tensions in the Middle East, led to fluctuations in crude oil prices, directly impacting the cost of toluene, a key feedstock for benzoic acid. 

Supply Chain Challenges: Political instability and trade restrictions affected the transportation and availability of raw materials, creating supply shortages in some regions. 

Shifting Global Trade Patterns: Manufacturers re-evaluated sourcing strategies due to geopolitical uncertainty, increasing logistics and operational costs for benzoic acid production. 

 

Why PriceWatch?

PriceWatch is your trusted resource for tracking global benzoic acid price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the benzoic acid market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.

In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence benzoic acid prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely benzoic acid market data.

Track PriceWatch's benzoic acid price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Data Collection and Sources​

  • Real-Time Market Data: Price-Watch aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions. 
  • On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major Benzoic Acid production hubs. This ground-level intelligence is crucial for understanding localized market dynamics. 
  • Supply Chain Monitoring: We track the entire Benzoic Acid supply chain, from raw material availability (e.g., toluene) to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis​

  • Geopolitical Tensions: Price-Watch continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact Benzoic Acid prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing. 
  • Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on Benzoic Acid production facilities, particularly in vulnerable regions like the U.S. Gulf Coast. These events are factored into our price forecasts and supply outlooks. 
  • Economic Shifts: Price-Watch evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., agrochemicals, textile, and nylon adhesives), to predict shifts in Benzoic Acid demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global Benzoic Acid production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately. 
  • Future Capacity Projections: Our research includes detailed forecasts of upcoming Benzoic Acid production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization. 

Demand Forecasting

  • Sectoral Demand Analysis: Price-Watch provides in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments. 
  • Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global Benzoic Acid pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations.  

Pricing Model Development

  • Dynamic Pricing Models: Price-Watch utilizes advanced econometric models to forecast Benzoic Acid prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power. 
  • Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

  • Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations. 
  • Ongoing Support: Price-Watch offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice.

This research methodology ensures that Price-Watch delivers the most accurate, timely, and actionable Benzoic Acid pricing assessments, helping our clients stay ahead of market trends and make informed business decisions. 

Benzoic Acid price provided by PriceWatch is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for benzoic acid. PriceWatch disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

The pricing of benzoic acid is influenced by several factors, including raw material costs such as propylene, fluctuations in supply and demand within industries like paints, coatings, and adhesives, as well as external elements like geopolitical events, trade tariffs, and energy prices. These factors combine to create variability in pricing depending on global economic conditions.

Regional production plays a significant role in benzoic acid pricing. Regions with high production, like Asia-Pacific, tend to have more competitive pricing due to local availability, whereas regions that rely on imports, such as North America and Europe, often face higher costs due to transportation fees, import duties, and potential supply chain disruptions.

The latest pricing trends for benzoic acid often reflect fluctuations in the cost of raw materials and changes in global supply chains. To secure better rates, procurement heads can consider locking in long-term contracts with suppliers, monitoring global price trends and indices, and optimizing bulk purchasing strategies to take advantage of volume discounts.

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